Elanco acquires enzyme maker ChemGen
Elanco, the animal health division of Eli Lilly and Company has acquired ChemGen Corp., a privately held bioscience company specializing in the development and commercialization of innovative feed enzyme products that improve the efficiency of poultry, egg, and meat production.
The acquisition will provide Elanco with a portfolio of leading feed enzyme products, as well as a pipeline of innovative compounds in development.
ChemGen will continue research and administrative operations at its current location in Gaithersburg, Maryland, USA and manufacturing activities at its facility in Terre Haute, Indiana, as well as its present sales and field service operations.
Upon closing of the transaction, ChemGen will become a wholly owned subsidiary of Lilly and an operating unit of Elanco.
The transaction is expected to close in the first quarter of 2012, contingent upon clearance under the Hart-Scott-Rodino Anti-Trust Improvements Act and other customary closing conditions. Financial terms of the transaction were not disclosed.
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